COMMENT: RBNZ is still capable of producing worthwhile research

Jenny Ruth's Just the Business! I’m so used to seeing sloppy and ill-thought-out analysis coming out of the Reserve Bank these days that I confess when a paper on housing landed in April, I went looking for faults.

Like the time when RBNZ said it needed to focus on climate change as part of its role in ensuring financial stability because mortgages are of such long duration.

But its own data showed mortgages reprice in about three or four years while insurance reprices every year.

And RBNZ tried its darndest to suppress a paper one of its staff wrote in 2018 that found climate change posed little threat to financial stability because of such repricing.